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Showing posts from January 12, 2012

The AP system and Proton

Khazanah wants to dispose of the headache from their failed sayur project . After spending about RM150 million, they will be lucky to get back 20% or 30% of their total investment costs.

In the same way, they may dispose Proton (a RM3.29 billion company) to Nadzmi at a fraction of the company's value. That will make Proton financially viable for Nadzmi.

Then to make the business also viable, Nadzmi will ride on the AP crutches, on the Import Duties, Excise Duty and Other Taxes which inflates the prices of other imported cars in the country to survive for how many more years?

So it is us the suffering taxpayers who will be keeping Nadzmi in the money. If Khazanah sells their stake to Nadzmi at 'besi buruk' prices it is us the taxpayer who suffers the loss. It is our money that will be given to Nadzmi.

Step 1 : he will buy Proton cheap. Step 2 : he will enjoy the AP and import duty crutches. Then make an extra RM400 to RM500 million profit (Nadzmi's so called low hangin…